First National Bank of Omaha Mortgage Interest Rate and Cost Review

Is First National Bank of Omaha a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by First National Bank of Omaha with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.05%)
Loan Related Closing Costslower than average (-$361)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.fnbo.com

On average, First National Bank of Omaha’s interest rates were similar to those of other lenders (-0.05%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$361. Overall, combining interest rates and closing costs we estimate that First National Bank of Omaha tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

First National Bank of Omaha’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track First National Bank of Omaha was most active in:

  1. Omaha, NE
  2. Fort Collins, CO
  3. Kansas City, MO
  4. Chicago, IL
  5. Lincoln, NE

Furthermore, First National Bank of Omaha is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Omaha, NE, for FHA mortgages
  2. Kearney, NE, for VA mortgages

You can click through to check out First National Bank of Omaha’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

First National Bank of Omaha’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, First National Bank of Omaha originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.06%-0.13%+0.01%+0.00%-0.09%
Loan Related Closing Cost Difference-$325-$265+$24-$80-$140
Cost Adjusted Rate Difference-0.08%-0.15%+0.01%-0.01%-0.10%
Star Rating(4.0)(4.5)(3.5)(3.5)(4.0)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.01%-0.09%+0.01%+0.00%-0.06%
Loan Related Closing Cost Difference-$488-$283-$6+$0-$440
Cost Adjusted Rate Difference-0.05%-0.12%+0.01%+0.00%-0.10%
Star Rating(4.0)(4.0)(3.5)(3.5)(4.0)

As a summary, First National Bank of Omaha is cheap for Conforming, FHA and VA purchase mortgages. It is similar to other lenders for Jumbo and USDA purchase mortgages. For refinancing, First National Bank of Omaha is cheap for Conforming, FHA and VA mortgage refinance. It is similar to other lenders for Jumbo and USDA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about First National Bank of Omaha:

Registered name: First National Bank Of Omaha
Registered city and state: OMAHA, NE, 68197
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: LAURITZEN CORPORATION

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for First National Bank of Omaha’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.